Unless you have been living on a deserted island some where you are probably aware that we in the midst of some interesting and challenging economic times. Big business are lining up for bailouts, the markets are just one roller coaster ride after another, yet we ( the consumer and tax payer) are the engine that runs the economy and where can we turn if we need help?
Here are some signs that you may be in need of a bailout and what you can do about it:
1) More than 40% of your income is going to service your debt.
2) Your balance is higher than 90% of your credit limit.
3) You are using one credit card to pay another.
4) You have been late more than once in paying your creditors ( not utilities).
5) You have or are receiving calls about money you owe.
6) You are living paycheck to paycheck.
7) You think the light at the end of the tunnel is an oncoming train.
8) You are stressed about the money you owe.
9) Your debts are keeping you up at night.
10) You feel like you are working only to pay your bills!
There is a better way! If you are a home owner, the lowest cost of borrowing is against your home. That is because it is a secured loan. Contact me today and we can look at combining all your debts into one simple payment, also providing you with a plan to pay it off quickly and efficiently if you qualify. Start focusing on designing your life instead of just paying your bills and you will be surprised how different your life can be. I would recommend that you sit down with a financial advisor like my friend Stephen Cox to help you design out your long term financial plan.